Pension and Other Postretirement Benefits (Tables)

9 Months Ended

Apr. 30, 2019

Defined Benefit Plan [Abstract]

Schedule of Net Benefit Costs

The components of net periodic pension and postretirement health benefit costs were as follows:

	Pension Benefits
	(in thousands)
	For the Three Months Ended April 30,						For the Nine Months Ended April 30,
	2019			2018			2019			2018
Service cost	$	407		$	431		$	1,220		$	1,293
Interest cost	529			503			1,586			1,517
Expected return on plan assets	(702		)	(656		)	(2,107		)	(1,627		)
Amortization of:
Prior service costs	—			1			1			2
Other actuarial loss	192			314			578			955
Net periodic benefit cost	$	426		$	593		$	1,278		$	2,140
	Postretirement Health Benefits
	(in thousands)
	For the Three Months Ended April 30,						For the Nine Months Ended April 30,
	2019			2018			2019			2018
Service cost	$	27		$	26		$	79		$	80
Interest cost	24			20			73			63
Amortization of:
Prior service costs	(2		)	(2		)	(5		)	(5		)
Other actuarial loss	—			—			—			—
Net periodic benefit cost	$	49		$	44		$	147		$	138

Schedule of Assumptions Used

Assumptions used in the previous calculations were as follows:

	Pension Benefits				Postretirement Health Benefits
	For the Three and Nine Months Ended April 30,
	2019		2018		2019		2018
Discount rate for net periodic benefit cost	4.04	%	3.75	%	3.81	%	3.26	%
Rate of increase in compensation levels	3.50	%	3.50	%	—		—
Long-term expected rate of return on assets	7.00	%	7.00	%	—		—

The medical cost trend assumption for postretirement health benefits was 7.50%. The graded trend rate is expected to decrease to an ultimate rate of 4.50% in fiscal year 2038.